Why Shares of Overstock Headed Higher on Thursday

Shares of Overstock (NASDAQ: OSTK) closed trading on Thursday up by 6%, but they had been up by as much as 12% earlier in the session. The only newsworthy event of the day that could have directly influenced the stock was a statement from the company clarifying its answers to shareholders' questions about shares of its Series A-1 Preferred Stock.

Here's to anyone who had the luck and impeccable timing to buy Overstock stock at its absolute bottom in March and hold on until now. You'd be hard-pressed to find a better three-month return than this.

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Source Fool.com